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20121129
20121207
Search Results 0 to 13 of about 14 (some duplicates have been removed)
year that never ended. two big stories this week -- the impending fiscal cliff and the washington debates over who will succeed hillary clinton as secretary of state. first to the fiscal cliff. at the end of the year the buescher ra tax cuts will expire and the first wave of $1.2 trillion in spending cuts is scheduled to kick in. c.e.o.'s and economists alike are worried this will send the economy spiraling back into recession. the solution, $1. trillion in new revenue, much to come from raising taxes on wealthy americans. >> if congress does nothing, every family in america will see their income taxes automatically go up on january 1. every family. everybody here, you'll see your taxes go up on january 1. and it's not acceptable to me and i don't think it's acceptable to you for just a handful of republicans in congress to hold middle-class tax cuts hostage simply because they don't want tax rates on upper-income folks to go up. gwen: house speaker john boehner's response, no way. they are, he said, at stalemate. >> the white house spends three weeks trying to develop a proposal,
the fiscal cliff. the so-called fiscal cliff. they're not talking to each other at the moment. that is what the conversation is going to get to, how do we avoid going over the so-called fiscal cliff? you suggested that the fiscal cliff might be good. i got a chance to go through your book. i understand, i think, why you might feel that way. the book argues that we need disorder to develop. we need disorder in our world to develop. we will come back to the book in a moment. based upon the motion -- that notion, why might the fiscal cliff be a good thing? >> we have been stuck for four years in a state of complacency. nobody wants to do anything about the accumulating problems. everybody knows about the problems. i think the civilization is masking deeper problems. if you let markets give you information, they will give the information. other than artificially prop up everything, like having the federal reserve control prices. this is not a long-term sustainable situation. what i think should happen is -- you would rather fail early than fail late. tavis: i'm trying to understand where the li
. >> sreenivasan: wall street tracked the ups and downs of the fiscal cliff drama in washington today. at one point, the dow jones industrial average was off more than 100 points. but stocks made up the ground after the president's talk of a deal by christmas. the dow ended with a gain of nearly 107 points to close at 12,985. the nasdaq rose 24 points to close well over 2,991. a moderate republican senator susan collins of maine voiced new concerns today about u.n. ambassador susan rice. it stemmed from rice's initial account, on a sunday talk show, of the attack on the u.s. consulate in benghazi, libya. at the time, she said it began as an anti-american protest, but she now says she was working off faulty intelligence. rice met with collins for 90 minutes today, but afterward the senator remained critical. >> i still have many questions that remain unanswered. i continue to be troubled by the fact that the u.n. ambassador decided to play what was essentially a political role at the height of the contentious presidential election campaign by agreeing to go on the sunday shows to present the adminis
the fiscal cliff would be easy. now, more and more are talking about a rerun of what happened with the tarp bailout bill. first, congress may have to deadlock and go over the cliff, and then count on a falling market and an angry public to force action. >> it's what's euphemistically being called "let's let the peasants storm the castle with pitchforks" strategy. that is, get the average voter so upset that they pound on the... do the equivalent of pound on the door of their member of congress or the member of the senate, call their office and say, "look, i know i told you not to vote to raise taxes or not to vote to cut medicare, but you got to stop the pain." >> reporter: how bad could the pain get? after the house voted down the tarp bailout, the s&p 500 fell more than 8%. darren gersh, nbr, washington. >> tom: for more on the fiscal cliff negotiations, susie spoke with a leading democrat a short while ago, senator kent conrad of north dakota. >> susie: senator can rad thank you for joining us. let me begin our conversation by asking you, what are the chances that we will get a fiscal cl
cliff deal in washington. the dow jones industrial average gained more than 82 points to close at 13,034. but the nasdaq fell nearly 23 points to close at 2,973. the day's big loser was apple, down more than 6% over concerns that smart phone sales are lagging. former texas congressman jack brooks has died. he served 42 years in the house, and was in the dallas motorcade on november 22nd, 1963 when president kennedy was assassinated. hours later, brooks was on hand as vice president and fellow texan lyndon johnson was sworn in to the presidency. later, brooks helped author the 1964 civil rights act, and he drafted the articles of impeachment against president nixon. jack brooks was 89 years old. those are some of the day's major stories. now, back to gwen. >> ifill: lawmakers stepped up the rhetoric, but grew no closer today to agreement on how to avoid slipping over the so- called fiscal cliff. but each side demanded the other compromise. "newshour" congressional correspondent kwame holman begins our coverage. >> i have to just tell you that is a... that is a bad strategy for america
than its namesake metals. we'll explain. more tough talk today from washington on the fiscal cliff: treasury secretary timothy geithner said he's willing to go over it if republicans don't agree to tax hikes for the wealthiest americans. president obama said basically the same thing but added one more hard line to the negotiations. >> if congress in any way suggests that they're going to tie negotiations to a debt ceiling vote and take us to the brink of default once again, as part of a budget negotiation-- which, by the way, we have never done in our history until we did it last year-- i will not play that game. >> late today the president spoke by telephone with house speaker john boehner. no specifics on what they said to each other, but it was their first conversation in a week. eventually the two sides will get down to bargaining over specifics, including entitlements. one idea may be to change the way the government measures inflation. that may sound like a small change, but, as darren gersh reports, it could have a big impact. >> reporter: if the price of oranges goes up, co
is focused on the fiscal cliff. but for some classes, it's been orientation time. that's when new senators learn their way around the capitol. among them is 32-year-old eric swalwell, an alameda county assistant d.a., he defended a fellow democrat in the district stretching from hayward to dublin. i spoke to swalwell earlier this evening from capitol hill. >> congressman eric swalwell, thanks for joining us. >> happy to be here. >> you've been to orientation for a couple weeks. what have you learned? >> this is the end of the second week of orientation. i was here right after the election. now we know where our office is going to be, we've hired staff and i've learned how the house floor proceedings worked, you know, how we can best represent the people in the 15th congressional district. we have a lot of ideas i learned in the campaign, and now we know where to take those ideas, how to make them go through the legislative process and get them on the floor, so hopefully my colleagues and i can work together to help the folks who sent me here. >> you're not a stranger to the capitol. you we
in washington today to persuade president obama and congress to avoid the fiscal cliff. with just 33 days left to nail down a deal, c.e.o.s made the rounds to explain to lawmakers that because of cliff gridlock, they're holding back on hiring and spending. as darren gersh reports, c.e.o.s weren't the only ones campaigning hard today. >> reporter: the president and republicans focused today on staging events designed to pressure the other side. the president called on americans to tweet, facebook and call members of congress to tell them to pass tax cuts for everyone making less that $250,000 a year. >> 97% of small businesses would not see their income tax go up by a single dime. even the wealthiest americans would still get a tax cut on the first $250,000 of their income. >> reporter: the speaker dismissed a call from a fellow republican to give the president what he wants, saying it's not good economics to raise tax rates on small businesses. >> going over the fiscal cliff will hurt our economy and hurt job creation in our country. this is not good for our country. it's as simple as that, an
day closer today to automatic tax hikes and spending cuts, the so-called "fiscal cliff". the president took to the road, while republicans warned there's a deadlock in efforts to reach a deficit deal. >> now, of course, santa delivers everywhere. i've been keeping my own naughty and nice lists for washington. >> warner: the president chose a seasonal setting, a toy factory in hatfield, pennsylvania, and holiday imagery to press again for extending tax cuts for the middle class. >> if congress does nothing, every family in america will see their income taxes automatically go up on january 1. i mean, i... i'm assuming that doesn't sound too good to you. >> no. >> that's sort of like the lump of coal you get for christmas. that's a scrooge christmas. >> warner: in washington, republicans portrayed the road trip as so much humbug, at a time, they said, when negotiations are going nowhere. >> there's a stalemate. let's not kid ourselves. >> warner: house speaker john boehner said republicans remain willing to raise revenues, but not by raising tax rates. and he charged the white house isn't
Search Results 0 to 13 of about 14 (some duplicates have been removed)